GOLD price is consolidating and moving sideways in the short-term. Price has formed a triangle pattern. Triangles are usually found at the last stages of a trend, so we could see a final break out towards $1,330-40 before the reversal. Red lines – bullish channel Blue lines – triangle pattern Gold price remains inside the […]

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GBPJPY has been trending higher of late, reaching a high of 153.651 during yesterday’s trading session. This has led to a decline today and a break under key support at 153.000 and 152.850. In fact, the supporting trend line from the middle of December had been tested and failed earlier today, despite being supported by […]

WTI Oil futures extended the rally after a brief pause and hit 62.53 earlier today, its highest level since May 2015. Prices have been rising steadily since late December from the mid-58 handle and successfully breached the key 60 mark for the first time in 2 ½ years. Upside momentum has faded and the market […]

Burning Forecast 01/09/2018 EURUSD: Buy for a breakthrough of 1.2090. The new year started with a corrective decline in the Euro. We stand on selling from 1.2000, but the potential movement looks weak. It is more likely that the EURUSD pair will move up and make a new attempt at growth at 1.2090. To sell […]

Global equity bulls were in the vicinity during Tuesday’s trading session as world stocks remained at elevated levels. In the currency arena, the Dollar appreciated amid optimism over higher US interest rates. With the economic calendar relatively light today, price action may dictate where currency and Commodities trade. – The #EURUSD is pressured below 1.20 […]

GOLD PRICES slipped Tuesday in London’s wholesale market, falling for only the fourth time in 16 trading days as world stock markets, Commodities and government bond prices all rose yet again.   The US Dollar extended this week’s rally from 3-month lows on the currency market, pushing the Euro down to $1.19205, a 7-session low. […]

The U.S Dollar Index, which measures the greenback against six rival currencies, strengthened this week helped by a pullback in the Euro. The index is now extending the recovery to test 92.6, after three weeks of selling towards the end of 2017 amid uncertainty over the path of Federal Reserve rate hikes. This morning saw […]

Here are the latest developments in global markets: Forex: The dollar pared some losses versus the Yen, crawling up to 112.80 (-0.25%) after a trim of bond buying from the BOJ send the currency to a five-day low earlier in the day. Euro/dollar moved further down to 1.1924 (-0.33%) probably due to investors engaging in profit-taking, […]

Wave summary: EUR/NZD has declined nice and is now close to the first support near 1.6571. This support is expected to protect the downside for at least a corrective rally closer to 1.6800 and maybe even turn prices higher trough important resistance at 1.7025 for the next impulsive rally towards 1.7777. R3: 1,6890 R2: 1.6800 […]

Morning session is over on this Tuesday so let’s see how traders have performed so far. Euro/Dollar has declined by a total of 55 pips and a loss of point 35% was posted at noon. Turnover is high and neutral sentiment of the traders is 7% long. Downtrend suggests a successful morning session for those […]

A weak Pound and stronger global growth, particularly in the Eurozone, is driving up demand for British exports, which are boosting the UK’s manufacturing sector even as domestic demand falters amid the Brexit uncertainty. Industrial and manufacturing figures out on Wednesday are expected to show output picked up in November after stalling in October. Industrial […]

Wave summary: EUR/JPY peaked at 136.64, just below the expected 137.37 target. The decline from 136.64 does look constructive and confirm our view that wave (D) was close to completion and wave (E) ready to take over for a decline towards 123.43. Short-term the decline from 136.64 already look a bit stretched and a short-term […]

Let’s see which news releases could move the currency markets on Wednesday, the 10th of January. This is the Economic Calendar. Two news releases regarding the British economy in November are out at 9:30 in the morning, including the Industrial Production. Output stood unchanged in October, following a strong point 7% gain the previous month. […]

EURGBP appears poised for further losses and slipped beneath the 0.8850 barrier, while Euro was the worst performing major currency during yesterday’s trading session. The single currency had been under pressure versus sterling during the US trading session on Tuesday and ended the day near its low. The price recorded the second straight bearish day and plummeted almost 1% following the bounce off […]

When the European market opens, some Economic Data will be released. The US will release the Economic Data too, such as IBD/TIPP Economic Optimism, JOLTS Job Openings, and NFIB Small Business Index, so, amid the reports, EUR/USD will move in a low to medium volatility during this day. TODAY’S TECHNICAL LEVEL: Breakout BUY Level: 1.2029. […]

It’s Tuesday and you’re watching the Dukascopy Spike Controller, providing you with the benchmark interbank price data for the 3 non-cross majors. Euro/Dollar’s daily average spread is point 28 pips and max separation of point 8 pips was posted less than 4 hours ago. The pair has moved South of the 1 20 level as […]

In Asia, Japan will release the Consumer Confidence and Average Cash Earnings y/y data, and the US will release some Economic Data such as IBD/TIPP Economic Optimism, JOLTS Job Openings, and NFIB Small Business Index. So, there is a probability the USD/JPY will move with a low to medium volatility during this day. TODAY’S TECHNICAL […]

Here are the latest developments in global markets: Forex: The US dollar index – which tracks the greenback’s performance against a basket of six major currencies – traded slightly lower on Tuesday, after posting some gains on Monday. STOCKS: Asian markets extended their recent winning streak, with Japan’s Nikkei 225 and Topix Indices trading higher by 0.6% […]

The price is starting to reverse below strong resistance at 89.21 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we need to wait for a confirmation to go short on this trade. Price would need to break our ascending support line and also support at 88.46 (Fibonacci retracement, horizontal overlap support) to trigger a […]

Find out how the interbank compares with the technicals at 8 AM GMT. These are the Main Daily Trading Signals. Euro/Dollar sees 4 and 6 sell prompts on its 1 and 4-hour charts, respectively. The 24-hour scale is mostly neutral but, in contrast, the interbank is bullish at more than 19% long. The Cable’s hourly […]

Good morning, traders, the Dukascopy TV team is here with Tuesday’s Support and Resistance Level Report. Euro/Dollar has seen a decline, which leaves it between R1 of 1 1990 and S1 of 1 1950. R2 is backed up by Bollinger Upper Band, Price Channel Indicator Upper Line, a 2 year high and 4 other models. […]

The price is starting to reverse nicely below our major resistance at 0.7885 (61.8% Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction off this level to push the price down to at least 0.7696 support (Fibonacci retracement, horizontal pullback support). It’s important to watch out for our […]

Earlier today the Bank of Japan announced that it would taper its Japanese Government Bond purchases. The ‘taper’ reduces the size of 10 to 25-year debt from ¥200 billion to ¥190 billion and +25 year bonds from ¥90 billion to ¥80 billion. It’s unclear if this will be carried through to the next purchase or […]

GBPUSD is neutral in the short term and is consolidating gains made after breaking above the key 1.3500 level last week. The pair maintains an overall bullish undertone. The short-term technicals are neutral to bullish. The market is well-capped below the 1.3600 level which is now a strong resistance level. There is scope for a […]